Tony Bennett’s Unfortunate Decision, And How You Can Avoid It
Almost exactly a year ago, on July 21, 2023, legendary singer Tony Bennett died at the age of 96. Bennett had a magnificent career, which included winning twenty Grammys, two Emmys, and a Lifetime Achievement Award. He signed with Columbia Records and had his first number one hit in 1951. Seventy years later, in 2021, he released his final album, a collaboration with pop singer Lady Gaga, which earned Bennett a Guinness World Record for the oldest person to release an album of new material.
Tony Bennett had four children with two different wives. With his first wife, whom he married in 1952, he had two sons: D’Andrea (Danny, pictured) and Daegal (Dae). With his second wife, whom he married in 1971, he had two daughters: Joanna and Antonia. His oldest son, Danny, served as his father’s manager. Prior to his death, Tony Bennett put his estate in a trust. The trust included his real and personal property, as well as the rights to his music catalogue and image. Bennett named his eldest son, Danny, as trustee.
Less than a year after Bennett’s death, in June 2024, his two daughters sued their half-brother, Danny, accusing him of mishandling their father’s assets. They claim he failed to account for all the proceeds of the sale of Bennett’s music catalogue, as well as certain image rights. The case is ongoing. It is pretty clear that this was not Bennett’s intention — in fact, he probably set up the trust with the idea of avoiding this sort of lawsuit. So what went wrong?
What would have been a better option?
Bennett would have been better off choosing a different trustee. He fell into one of the Inheritance Pitfalls that we covered in our recent series. Particularly in a situation where the beneficiaries are not full siblings, it would be wise to consider appointing someone OTHER than one of the siblings as the trustee. The Tony Bennett case was further complicated by the fact that one of the children was involved in his business, yet the others were not — another potential inheritance pitfall and source of sibling rivalry.
Choosing the right trustee is a big decision which should be made with great consideration. We can help you set up a trust and choose the best trustee to administer it — without jeopardizing your family relationships. As caring and knowledgeable elder law attorneys, this is exactly what we do. Don’t leave your heart in San Francisco and your estate in the wrong hands. We can help. We are only a phone call or e-mail away.
The information provided herein does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available here are for general informational purposes only.
